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Budgeting for Your Student Accommodation

The life of a student itself is a challenging one when in college. It becomes more stressful when it comes to navigating a new place, people and environment – out of town and away from your family. You should manage everything including studying, assignments, shopping, food, and your student housing. In this post, I am going to help you with some savvy tips to get the most of your money without cutting out your needs.

1. Prepare a Budget List

The first thing, you need to do is preparing a budget list. So, sum up all the income sources including parental allowances. Now, list out the daily and monthly expenses, including bulk and retail expenditures, and your student accommodation. It will help you to manage your expenses according to your budget.

2. Don’t Keep Cash in Hand

Then…? Get your saving account in the bank; you can credit money in the saving account. It will control your wants or unnecessary expenses up to some level. If you have to pay for a tutor fee or college fee, then use the ATM in the nearby area. But again, avoid shopping from debit card. The best way to avoid it is getting money that you need for a week and keep the card at a safe place or at home (if you travel home weekly).

3. Avoid Using Credit Card

It takes nothing to get a credit card and go shopping, but sometimes you may be left regretting when you would compel to pay the overextending cost. If you have credit card, then use within the limit, and limit the purchases made with it to emergencies only.

4. Tutoring Can Be the Best Outsource of Income

If you like teaching, then you can take the benefit of teaching. Around 40% of students earn through teaching. If you don’t need money, still you should take advantage of tutoring as it may help in your education too, as you will be given the opportunity to explore something new.

5. Stick with Your Needs, Ignore Your Wants

It’s important for you to understand what you really need. Don’t run behind your wants as they cannot be satisfied throughout your lifetime. So, check out how much you can save monthly on the gas bill, your student accommodation, laundry cost and other retail expenses like snacks, travel costs, etc. Now, put your plan into action and in a few weeks of time, you could be able to distinguish between necessary and necessity.

6. Browse Text Books and Other Essential Online

Well, this could be a big saving step. There are plenty of online book stores, libraries and courses available. They offer products and services at the far cheaper price than that of in stores. You will save big bucks for sure. Last but not the least; a saying goes “Education is not preparation for life; education is life itself.” Being a student comes with a lot of ups and downs, but this is all the fun about student life. Tune out all the distractions coming your way and be a smart achiever.

By using these budgeting tips, you are sure to save enough money for everything on your list of expenses, including your student accommodation. At our Barrie student housing, we offer affordable, new student rentals, which means you can get the best of both worlds. Book a tour to view our Barrie student housing today!